As More of a Good, Such as Television Sets, Is

question 14

Multiple Choice

As more of a good, such as television sets, is produced, the opportunity cost of producing it increases. This most likely occurs because:

• A) as more of a good is produced the inputs used to produce that good will increase in price
• B) resources are not equally well- suited to producing all goods and as more of a good is produced it is necessary to use resources less well- suited to the production of the good
• C) as more of a good is produced the quality of the technology available to produce additional units of the good declines and therefore the costs of production increase
• D) consumers would be willing to pay higher prices for the good as more of the good is produced

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Definitions:

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